Dubai PR Network, Online Press Release from Dubai and Middle East
Business, Banking and Investments(Banking & Investments)
Filter PR by
Arab-Brazilian Chamber of Commerce enhances transactions and opens start-up incubator with launching of ABCC 4.0 Space
  • Implementation of Ellos blockchain platform to ramp up digital transaction recording
  • ABCC Lab to assist start-ups planning to enter the Brazilian and Arab market
  • Innovation Committee to discuss technology-related concerns and strategies

August 31, 2021-  As part of its mission to raise its social and technological standards to match international benchmarks, the Arab-Brazilian Chamber of Commerce (ABCC) announced the launching of ABCC 4.0 Space, which will facilitate further trade growth momentum between Brazil and the Arab world. The announcement was made in a webinar hosted by ABCC with the special participation of Marcos Pontes, Brazil’s Minister of Science, Technology, and Innovation.

During the event, ABCC unveiled three initiatives, namely the implementation of Ellos Platform to store all supply chain records digitally, the forming of the Innovation Committee to facilitate technology-related discussions, as well as the launching of the ABCC Lab, which is an incubator dedicated to start-ups planning to contribute to the continuous growth of the Arab and Brazilian markets.

Osmar Chohfi, President, ABCC, said: “I am truly honored to witness the growth of ABCC as we move toward a new era of technology and meaningful trade relations. The pandemic has spurred us to ramp up our digital transformation by exploring new technologies and frameworks through the Ellos blockchain platform, ABCC Lab, and the Innovation Committee, alongside virtual work setups and more to enhance business workflow. With the launching of ABCC 4.0 Space, we aim to connect Brazilian and Arab ecosystems, as well as disseminate information and expand our operations further. We expect our respective communities to benefit greatly from ABCC 4.0 Space as we continue to implement better strategies to advance our economic and diplomatic agenda.”

“As demonstrated by companies who achieved monumental success during the initial wave of the pandemic, investing in new manufacturing technologies is the key to maintaining production efficiency. We join the rest of the world in welcoming the fourth industrial revolution by integrating smart technologies and intelligent machines to automate processes, boost production quality, and minimize waste across our inter-continental trade community,” Chohfi added.

ABCC developed Ellos Platform as a distributed digital ledger to enhance its supply chain documentation, effectively tracking all information regarding any product being sold across the Brazilian and Arab markets, including all commercial, banking, trade, and export transactions from end to end. Buyers will be able to access relevant product information upon scanning a QR code on its packaging, ensuring customer satisfaction and quality of goods. Within the blockchain, stakeholders will be able to review the involvement of manufacturers, transporters, point of sale (POS), and others through immutable data.

As an incubator for start-ups that aim to enter the Arab and Brazilian markets, ABCC Lab will focus on equipping start-ups with adequate training and promote networking among participants to improve the exchange of best practices in the innovation sector, and more. Through the project, ABCC plans to enhance enterprise-grade technology and innovation within the Arab-Brazilian trade community. Meanwhile, the Innovation Committee will oversee all matters related to ABCC Lab’s progress and hold regular meetings to discuss trends and connect stakeholders.

ABCC is one of the chief catalysts of productive cooperation between Brazil and Arab countries. Operating for more than six decades, ABCC has partnered with governments and business associations to facilitate free trade agreements. It also continues to support brick-and-mortar shops alongside investing in modern technologies.

Posted by : Dubai PR Network Editorial Team
Viewed 3050 times
PR Category : Banking & Investments
Posted on : Tuesday, August 31, 2021  2:11:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Agthia Group Announces Further Investment in Snacking and He...
Next Story : Invesco Chief Economist Warns Investors should be Wary of In...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Korean Food Gains Global Acceptance with 4% Market Share and US$10 BN Revenue in Target Ma... [24538-Views]
Al Ansari Exchange sees surge in non-resident transactions in first 10 days of Expo 2020 [23272-Views]
For Every Story, For Every Me [6933-Views]
The Tonda PF Collection- A Purist's Delight for Those in the Know [6601-Views]
Big Crown ProPilot Big Date Bronze- Flair Time [5957-Views]
Global Music Stars Relaunch Pandora ME for the Creative Next Generation [5506-Views]
TURKEY'S Rumeysa Gelgi is warded GUINNESS WORLD RECORDS™ Title for Tallest Woman Living wi... [5150-Views]
LG Releases Preliminary Earnings For Third-Quarter 2021 [4760-Views]
Wash Day Essentials: The Only Collection You'll Need for Perfect Curls [3936-Views]
Malabar Gold & Diamonds Launches ‘Bella Collection' – Dazzling 22k Gold Jewellery Curated... [3173-Views]
OMEGA Reveals the Secret of James Bond's Watch [3100-Views]
Sheikh Shakhbout Medical City Focuses on Holistic Care This Breast Cancer Awareness Month [3046-Views]
Aster Hospitals UAE Launches Oncology Centre in Dubai [3009-Views]
Arab Fashion Week Celebrates its Return to Physical Shows at Dubai Design District [3005-Views]
Germany Lifts Travel Restrictions for GCC Travellers [2849-Views]
Jaguar Land Rover Trials World-first Digital Supply Chain for Leather Using Blockchain Tec... [2784-Views]
Hyundai Motor Signals Carbon Neutral Commitment through New ‘Expecting Generation One' Cam... [2743-Views]
Hitachi Energy goes Live [2735-Views]
TCS Saudi Arabia Wins World Leadership Congress Award [2731-Views]
Leading Cloud Managed Service Provider G7 CR Technologies to Launch STAB Program for ISVs ... [2706-Views]
SAIF Zone Enriches its Digital Infrastructure with 36 New Services and Features [2669-Views]
Etihad Raises US$1.2 Billion in First Sustainability-Linked ESG Loan in Global Aviation [2661-Views]
UAE to Form Women's World Tour Team Exciting Project Set to Launch for 2022 [2620-Views]
Boom of Attendance at WHITE Milano. Over 13,000 visitors, 85% of whom were buyers. [2595-Views]
Pandora Introduces New Limited-Edition Charm in Support of Unicef [2571-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories